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Greystone Housing Impact Investors LP

GHI Financial Mortgage Finance

Greystone Housing Impact Investors LP’s revenue for fiscal 2025 (year ended December 2025) was $85.4 million, down 6.44% from fiscal 2024.

Revenue
−7.10%
EPS
+72.5%
Free cash flow
−92.9%
Total debt
−6.76%

Quarter to June 2026, against a year earlier

4.43 0.00 0.00%
Market cap
$103.1M
P/E
0.0×
Fwd P/E
3.2×
Dividend yield
15.2%
F-score
3/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.02
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — 1 — —
Sell — — — — — — — — — — — —
Insider Ownership 2.13%

Capital & Financial Ratios $m

Size
Market Cap 103.08
Revenue ttm 81.23
Net income ttm (1.96)
Free cash flow ttm 17.59
Net debt Q 960.17
Valuation
P/E 0.00
Forward P/E 3.16
Price / sales 1.27
Forward P/S Powerpack
Price / FCF 5.85
Price / book 0.39
Financial health
Current ratio Q 8.88
Debt / equity Q 3.80
Interest coverage Q 0.96
Growth
Revenue growth Q −7.10% (below 0%: shrinking)
Operating income growth Q +42.19% (above 0%: growing)
EPS, this year −42.68% (below 0%: weak)
EPS, next year A +48.94% (at or above 15%: strong)
Revenue, next year A −7.08% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/S against its own 10 years 0.04%
10-year low 10-year high
P/B against its own 10 years 0.04%
10-year low 10-year high

Dividends

Yield
15.2%
Annual rate
0.67
Payout ratio
—
Growth, 2017–25
−2.50%/yr
  1. 1.49 ’17
  2. 1.49 ’18 +0
  3. 1.49 ’19 +0
  4. 0.91 ’20 −39
  5. 1.49 ’21 +64
  6. 1.83 ’22 +22
  7. 1.10 ’23 −40
  8. 1.48 ’24 +35
  9. 1.22 ’25 −17
  10. 0.56 ’26e −54
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 48 31 55 42
Receivables 8 7 7 7
Inventory — — — —
Other — — — —
398 319 250 137
2023 2024 2025 Q'26
Payables 23 23 21 15
ST’ Debt — — — —
Other — — — —
23 23 21 15

Compound Annual Growth %

10y 5y 3y
Sales 3.60% 8.99% 1.74%
Cash Flow 6.83% 18.83% 21.11%
Earnings 0.00% 0.00% 0.00%
Book Value (1.21%) (5.08%) (5.06%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY25 Estimate 0.17 Actual 0.25

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY24 0.21 −0.23 Miss by 0.44
Q4 FY24 0.12 0.34 Beat by 0.22
Q1 FY25 0.21 0.31 Beat by 0.10
Q2 FY25 0.17 0.25 Beat by 0.08

EPS $

Mar Jun Sep Dec Year
’26 0.01 (0.11) — — —
’25 0.07 (0.40) 0.03 (0.17) (0.52)
’24 0.42 0.19 (0.23) 0.39 0.76
’23 0.60 0.85 0.39 0.24 2.06
’22 1.02 0.74 0.79 0.09 2.61
’21 0.27 0.38 0.56 0.33 1.54
’20 0.12 0.18 (0.06) 0.00 0.21
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 22 21 — — —
’25 24 23 22 17 85
’24 22 22 24 23 91
’23 25 28 26 25 105
’22 19 17 23 22 81
’21 14 16 18 20 68
’20 14 14 14 13 56
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 0 1 — — —
’25 11 11 7 9 38
’24 3 5 5 5 18
’23 0 13 7 5 25
’22 9 5 5 1 21
’21 7 8 8 11 34
’20 2 7 4 3 16
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 0 1 — — —
’25 10 12 8 9 39
’24 3 5 5 5 18
’23 28 (15) 7 5 25
’22 9 5 5 0 19
’21 7 6 10 11 34
’20 2 7 3 3 15
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 59 70 81 62 56 68 81 105 91 85 81 +4.2% 79 81 — (2.4%)
Gross margin, % 84.36 88.31 93.49 92.82 92.17 94.17 94.16 97.46 100.00 100.00 97.33 +15.6 pt
EBT 29 37 40 31 7 38 66 54 21 (7) (1) n/m
EBT margin, % 48.73 52.12 49.44 49.00 13.13 55.75 80.80 51.50 23.40 (7.95) (1.39) (56.7) pt
Net income 24 31 41 30 7 38 66 54 21 (8) (2) n/m
Per share, $
Per share, $ Revenue 2.90 3.47 4.01 3.04 2.71 3.23 3.54 4.57 3.96 3.68 3.49 +2.7%
Earnings 1.01 1.30 1.77 1.24 0.21 1.54 2.61 2.06 0.76 (0.52) (0.24) n/m
Cash flow 0.75 0.85 1.26 0.88 0.77 1.60 0.92 1.09 0.78 1.62 0.74 +9.0%
Capex (0.52) 0.11 (0.16) (0.01) (0.02) 0.00 (0.08) (0.02) 0.00 0.06 0.02 n/m
Free cash flow 0.23 0.95 1.10 0.87 0.75 1.60 0.84 1.07 0.78 1.67 0.76 +24.8%
Book value 13.76 15.49 15.00 16.70 17.55 17.58 14.16 15.23 13.26 11.96 11.34 (1.5%)
Shares, m 20 20 20 20 20 21 23 23 23 23 23 +1.5%
Valuation, ×
Valuation, × P/E 15.59 13.78 9.46 18.53 53.68 12.49 6.72 8.08 13.31 0.00 0.00 15.2
P/S 5.57 5.16 4.19 7.56 4.69 5.94 4.99 3.66 2.59 1.87 1.27 4.6
P/B 1.17 1.16 1.12 1.38 0.72 1.09 1.25 1.10 0.77 0.58 0.39 1.0
EV/Sales 15.39 13.29 10.77 16.11 15.21 16.76 17.59 13.20 15.00 14.06 — 14.7
EV/FCF 196.11 48.43 39.18 56.20 54.76 33.86 73.82 56.32 77.04 30.94 — 66.7
Cash, $m
Cash, $m Operating cash flow 15 17 26 18 16 34 21 25 18 38 17 +10.5%
Capex (11) 2 (3) 0 0 0 (2) 0 — 1 0 n/m
Free cash flow 5 19 22 18 15 34 19 25 18 39 18 +26.7%
Balance, $m
Balance, $m Working capital 57 99 49 50 199 400 558 375 296 229 122 +16.7%
Net debt 579 572 536 533 584 741 1,023 1,002 1,132 1,041 960 +6.7%
Shareholders’ equity 280 314 304 342 360 372 324 349 306 277 264 (0.1%)
Returns, %
Returns, % ROA 2.56 2.84 3.73 2.75 0.39 2.75 4.25 3.32 1.19 (0.75) (0.44) (3.3) pt
ROIC 2.19 2.90 4.32 2.79 1.79 2.50 2.61 3.82 3.16 2.68 2.87 +0.5 pt
ROE 7.82 9.63 12.38 8.55 1.24 9.62 18.01 15.19 5.59 (3.95) (2.32) (11.8) pt
People
People Employees — — — — — — — — — — — —
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Greystone Housing Impact Investors LP vs peers in Mortgage Finance (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
VEL Velocity Financial, Inc. $689.0M 6.3× 12.1× +34.05% (above 0%: growing) +3.03% (above 0%: growing) −152.77% (below 0%: shrinking) 0.00% 0.00% Compare
BETR Better Home & Finance Holding Company $360.6M — (loss-making) — (loss-making) +25.81% (above 0%: growing) n/m +136.12% (above 0%: growing) 89.80% 0.00% Compare
ONIT Onity Group Inc. $269.2M 2.0× 13.2× −0.78% (below 0%: shrinking) −80.82% (below 0%: shrinking) +306.19% (above 0%: growing) 100.00% 0.00% Compare
LDI loanDepot, Inc. $211.5M — (loss-making) — (loss-making) +19.39% (above 0%: growing) n/m +589.11% (above 0%: growing) 87.77% 10.45% Compare
GHI Greystone Housing Impact Investors LP $103.1M — (loss-making) 3.2× −7.10% (below 0%: shrinking) n/m −92.85% (below 0%: shrinking) 93.66% 60.90%
IOR Income Opportunity Realty Investors, Inc. $72.7M 20.1× 13.8× +534.29% (above 0%: growing) −29.17% (below 0%: shrinking) +155.56% (above 0%: growing) 0.00% 0.00% Compare
BLNE Beeline Holdings, Inc. $21.2M — (loss-making) 6.1× +56.62% (above 0%: growing) n/m +146.53% (above 0%: growing) 100.00% (171.05%) Compare
PTIV Pineapple Financial Inc. $19.2M — (loss-making) — (loss-making) −16.66% (below 0%: shrinking) n/m −914.00% (below 0%: shrinking) 100.00% 4,077.43% Compare
CNF CNFinance Holdings Limited Sponsored ADR $13.7M 0.6× 5.6× −28.23% (below 0%: shrinking) −28.49% (below 0%: shrinking) −137.50% (below 0%: shrinking) 57.90% 0.00% Compare
Median of peers $142.1M 4.2× 12.1× +22.60% −28.83% +141.33% 88.79% 0.00%

All 13 Mortgage Finance stocks →

Pay and ownership Proxy statement filed 30 April 2025

Chief executive’s pay

Year Total pay Actually paid $100 invested
2024 361.49k 136.54k 71.34
2023 400.91k 431.89k 104.90
2022 427.27k 401.50k 97.46

Ownership

Directors and executive officers, together 1.80%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Greystone Housing Impact Investors LP (GHI) Latest News

22 Oct

Impact 3 · · GlobeNewswire

29 Sep

Impact 3 · · GlobeNewswire

11 Aug

Impact 4 · transcript
Impact 4 · · Moby transcript
Impact 3 ·
Impact 3 · · MarketBeat transcript

10 Aug

Impact 3 ·

15 May

Impact 3 · · Simply Wall St.

13 May

Impact 3 · · Moby

12 May

Impact 4 · · GuruFocus.com
Impact 4 · · The Motley Fool transcript
Impact 3 · · MarketBeat

11 May

Impact 4 · · GlobeNewswire

24 Apr

Impact 3 · · Simply Wall St.

9 Apr

Impact 4 · · Simply Wall St.

1 Apr

Impact 4 · · The Motley Fool transcript

25 Mar

Impact 3 · · Simply Wall St.

20 Mar

Impact 4 ·

19 Mar

Impact 4 · · GuruFocus.com
Impact 3 · · MarketBeat

16 Mar

Impact 4 · · Associated Press Finance
Impact 4 · · GlobeNewswire

22 Jan

Impact 4 ·

20 Jan

Impact 3 · · GlobeNewswire

8 Jan

Impact 4 · · Simply Wall St.

16 Dec

Impact 3 ·

2 Dec

Impact 4 · · Simply Wall St.GuruFocus.comAssociated Press FinanceSimply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

18 Nov

Impact 4 · · Simply Wall St.

7 Nov

Impact 4 · · GuruFocus.comAssociated Press FinanceGuruFocus.comSimply Wall St.GuruFocus.comGuruFocus.comGuruFocus.comMT Newswires transcript

6 Nov

Impact 4 · · Associated Press Finance
stockrow.com/GHI · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com